The TPP (Trans Pacific Partnership), TTIP (Transatlantic Trade and Investment Partnership), and TISA (Trade in Services Agreement) are currently being negotiated behind closed doors all over the world.
The one thing all these treaties have in common, besides having very little to do with trade, is that they all include a provision for ISDS or Investor State Dispute Settlement. It all sounds very civilised, until you read the fine print about this court:
- It meets none of the accepted standards for a judiciary anywhere in the developed world
- It has the power to force governments to change laws or pay huge sums in compensation to companies, care of taxpayer cash
- Only corporations can lodge claims and they can do so for laws that not only affect their current profits but forecast profits. So money they haven’t even made yet.
We don’t understand why governments would sign up to an agreement that includes a clause granting an inferior global court power over its sovereignty. So we ask, is the TPP the end of democracy?